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Microfinance

Netherlands’ FMO Lending $5m to First MicroFinance Bank-Afghanistan to alleviate poverty in Afghanistan

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Source: 
microcapital.org

The Netherlands Development Finance Company, a government-backed institution also known by its Dutch acronym FMO, recently announced it will loan the local-currency equivalent of USD 5 million to The First MicroFinance Bank-Afghanistan (FMFB-A), which is owned by the Aga Khan Agency for Microfinance (AKAM), a unit of Switzerland-based Aga Khan Development Network (AKDN) that provides microfinance services across ten different countries [1, 6]. Established in 2004, FMFB-A seeks to alleviate poverty and promote economic development “through the provision of sustainable financial services to t

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Watch this video!

HH the Begum Aga Khan - President of the Princess Inaara Foundation - advocates microfinance as a way to lift the poorest out of extreme poverty, and describes her foundation's successful experiences in microfinance. At the Davos Debates.


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